Town Hall News

By Ann Saphir (Reuters) – Responsibility for the Federal Reserve’s oversight of large financial institutions like the failed Silicon Valley Bank rests with staff in Washington and not with any regional Fed bank chief, a former chair of the San Francisco Fed bank said on Friday. “The regulatory regime at the Reserve Bank is that they (bank examiners) are housed in the district offices and report to the Board of […]

By Laura Matthews, Matt Tracy and Stefania Spezzati NEW YORK/LONDON (Reuters) -Some bankers and traders are grappling with how to interact with Credit Suisse across various markets including debt and foreign exchange, with some increasing scrutiny when dealing with the Swiss bank or its products, sources said. On Sunday, UBS offered to pay CHF 3 billion ($3.23 billion) for Credit Suisse, a hastily-agreed merger engineered by Swiss authorities following a […]

By Amanda Cooper, Sruthi Shankar and Amruta Khandekar (Reuters) – Shares of Germany’s largest bank Deutsche Bank slid on Friday as investors fretted that regulators and central banks have yet to contain the worst shock to the sector since the 2008 global financial crisis. Wider indicators of financial market stress were also flashing, with the euro falling against the dollar, euro zone government bond yields sinking and the costs of […]

WASHINGTON (Reuters) – The U.S. Transportation Department on Friday denied an exemption request by JetBlue and Spirit to operate under common ownership, citing the Department of Justice’s (DOJ) antitrust lawsuit filed earlier this month seeking to block the deal. The Transportation Department said a denial was warranted in light of a White House executive order that it “coordinate competition efforts, DOJ’s conclusion that the proposed merger would have anti-competitive effects, […]

(Reuters) – Russian forces attacked northern and southern stretches of the front in Ukraine’s eastern Donbas region on Friday, pressing on with their offensive despite assertions from Kyiv that Moscow’s assault was flagging near the city of Bakhmut. WAR ZONE * Some 10,000 Ukrainian civilians, many elderly and with disabilities, are clinging on to existence in horrific circumstances in and around the besieged city of Bakhmut, the International Committee of […]

By Benoit Van Overstraeten and Elizabeth Pineau PARIS (Reuters) -Britain’s King Charles on Friday cancelled a state visit to France next week after social unrest over President Emmanuel Macron’s new pension law erupted into some of the worst street violence seen in years across the country. The postponement – at Macron’s request – will be a major embarrassment to the French leader, who had hoped the monarch’s visit would mark […]

WASHINGTON (Reuters) – The U.S. Transportation Department on Friday denied an exemption request by JetBlue and Spirit to operate under common ownership, citing the Department of Justice’s (DOJ) antitrust lawsuit filed earlier this month seeking to block the deal. The Transportation Department said a denial was warranted in light of a White House executive order that it “coordinate competition efforts, DOJ’s conclusion that the proposed merger would have anti-competitive effects, […]

By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed higher on Friday, marking the end of a tumultuous week as U.S. Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector. While all three major U.S. stock indexes started the session sharply lower on the heels of a sell-off among European banks, those losses reversed by closing bell, repeating the intraday roller coaster ride […]

OTTAWA, ONTARIO (AP) — President Joe Biden and Canadian Prime Minister Justin Trudeau are set to announce an agreement aiming to stem the flow of asylum seekers at unofficial border crossings from the U.S. to Canada. The agreement on Friday comes as Biden makes his first visit to Canada as president. Wide-ranging Trudeau-Biden talks also were touching on the 13-month old war in Ukraine, military spending, shared concerns about China’s […]